Wireless Network Security Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The wireless network security market is expected to register a CAGR of over 12% over the forecast period from 2021 to 2026. The increasing consumer propensity toward adopting wireless devices in both residential and commercial spaces is augmenting the demand for wireless network security. The growing number of enterprises opting for digital networks and mobile devices is further influencing the market. According to a report from the Wireless Broadband Alliance (WBA), 90% of the survey respondents already plan to roll out Wi-Fi6 and 66% plan to deploy the next generation by the end of 2020. Such developments are expected to influence enterprises to enhance their security as well.

• The global adoption of Wi-Fi is on the rise in both commercial and residential space, with a growing number of mobile devices that are connected to high-speed internet is on the rise. According to Cisco, the Wi-Fi hotspots are expected to grow to 628 million public Wi-Fi hotspots by 2023 from 169 million in 2018. The growing adoption of IoT augments growth. With the growth in the number of Wi-Fi hotspots, the number of security risks is increasing, and these enterprises are moving toward adopting robust encryption. WEP uses an old encryption method and holds prominence in old systems, whereas WPA is one of the widely used standards among network devices.
• WEP and TKIP protocols have been deemed insecure many years ago as Wi-Fi connections carried out via these protocols can be decrypted with relative ease, and various hardware vendors are increasingly avoiding these protocol usage. Starting with May 2019, Windows 10 showed a warning to its users if they attempt connecting to a Wi-Fi network that uses these protocols. Apart from this, WPA-enabled devices are prone to attacks. For instance, a new bug present on the chips made by Broadcom and Cypress has rendered about one billion devices vulnerable to the attack that can decrypt information in transit, and the bug is called 'Kr00k'. Using the flaw, attackers can exfiltrate information by intercepting and decrypting packets sent over the WPA2 network.
• Devices, such as Amazon Echo, Kindle, iPhone, iPad, MacBook, Google Nexus, Samsung Galaxy, Raspberry Pi 3, Xiaomi, and certain Asus and Huawei products, were tested positive for Kr00k vulnerability. Owing to such developments, the demand for wireless security is expected to become vital, especially in network-handling mission-critical workloads. With the increasing deployment of IoT and BYOD trends, the need for wireless network security is expected to be one of the enterprises' priorities. According to a study by Outpost24, 61% of security experts mentioned that BYOD offers a severe threat to their organization, and 21% feared attacks via office-based IoT devices, such as printers. The greatest wireless attack threats were password theft at 62%, followed by Botnet/Malware threats with 60%.
• The CISA (Cybersecurity and Infrastructure Security Agency) which is a part of the Department of Homeland Security warned of COVID-19 network-security issues with the most common including Phishing, Malware distribution, Registration of new domain names containing wording related to coronavirus or COVID-19 and attacks against newly and often rapidly deployed remote-access and teleworking infrastructure. In April 2020, CISA released new guidance on how remote government workers and potentially others should address network security. It included interim Trusted Internet Connections (TIC) 3.0 guidance to aid agencies in securing their network and cloud environments.

Scope of the Report

Wireless network security primarily deals with protecting the wireless network from unauthorized and malicious access attempts delivered via wireless devices. The solution encrypts and secures all wireless communication, offers intrusion detection, and prevention. Some of the standard algorithms used for ensuring network security include Wired Equivalent Policy (WEP) and Wireless Protected Access (WPA). The study under consideration offers market developments and data via segments, such as solutions, mode of deployment, end-user vertical, geography, and competitive landscape.

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Key Market Trends

Retail is Expected to Hold a Significant Share

• The retail industry is witnessing growth in the last two years, especially with the massive expansion of the e-commerce industry, across the globe. Hence, the retailers are not only utilizing IoT solutions to improve their operational efficiency but also to enhance the customer experience to gain competitive advantages. With the increasing use of IoT in retail space, the demand for wireless security is expected to augment over the forecasted period. Retail companies are facing a landscape filled with growing and increasingly sophisticated threats, and the financial impact of these breaches is soaring.
• Moreover, the number of IoT connected devices in the Retail sector is increasing exponentially. For instance, in the EU region alone, the number of connected devices used in the retail industry was 2.28 million units in 2019 and is expected to grow until 3.09 million units by 2025, as per ENTO reports. IoT is playing a significant role in process automation and enhancing the operational efficiency of retail stores. It is providing energy optimization, surveillance and security, supply chain optimization, inventory optimization, and workforce management. IoT is also gaining capabilities in cold chain monitoring for temperature-sensitive grocery and pharmaceutical goods.
• Retailers are also utilizing IoT to avoid security pitfalls, and are deploying IoT-enabled systems that can withstand jamming in their warehouses and stores. Recently, in 2020, UK-based RELX launched its first flagship store in China equipped with facial recognition cameras that can alert staff when a suspected person enters the store. IoT devices are connected over a private store network, and many of these devices operate over this network. Owing to such growing adoption of connected devices in the retail space, vendors are increasingly offering wireless network solutions specific to the industry.
• For instance, Aruba is in the process of reshaping its edge networking with a more user-friendly configuration for its SDBranch, enabling more secure, simplified deployment and management of large distributed retail networks. IoT is also helping retailers to offer better customer experience, hence helping in gaining profit margins. For instance, US-based retailer Walgreens has been experimenting with IoT-enabled displays on refrigerator doors that utilize face detection technology to show ads based on approximate age and gender. Many retailers in Europe are installing small, customizable, IoT-connected dashboards, or buttons to gather customer feedback and then use those insights to enhance customer experiences.

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